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I plan to set up the company as professinal corporation type.

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I plan to set up the company as professinal corporation type. And I apply for EIN number on line. I chose corporations and then several type displayed on the list as follows : Corporaiton, S corporaiton, personal service corpration etc. There is no professinal corporation type. which one shoud be chosen for professinal corporation ?
Submitted: 1 year ago.
Category: Business Law
Expert:  Zachary replied 1 year ago.
Hi,

Thank you for your question. First, a professional corporation is a reserved corporation form for attorneys, accountants, doctors, and other licensed professionals. I want to make sure you understand that going forward.

However, a professional corporation (a P.C.) is simply a corporation. So, when you are making the selection for the EIN, you should just select corporation, unless you have elected to be a subchapter S corporation (which means that you get taxed on the individual level for all income that the company makes).

Usually, it is a good idea to actually incorporate the business with the state before obtaining the EIN.

Please let me know if you have further questions on this subject.

-ZDN
Customer: replied 1 year ago.

You have chosen Corporations.


Read the descriptions below and choose the type for which you are applying.



A corporation is a person or group of people who establish a legal entity by filing articles of incorporation with the state's secretary of state granting it certain legal powers, rights, privileges, and liabilities.


The income of an S corporation generally is taxed to the shareholders of the corporation rather than to the corporation itself. However, an S corporation may still owe tax on certain income.


A personal service corporation involves services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts, or consulting.

** I think professional corporation seems to be personal service corporation type. would you confirm it?
Expert:  Zachary replied 1 year ago.
What kind of business are going to operate?
Customer: replied 1 year ago.

it will be accounting firm

Expert:  Zachary replied 1 year ago.
Thank you for your response. Yes, pick the personal service corporation choice.
Zachary, Attorney
Category: Business Law
Satisfied Customers: 3821
Experience: Internationational Commercial Attorney
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